Marketplace Morning Report
Start your day with an up-to-the-minute report on the world of business and finance with host David Brancaccio.
Airing on Friday, March 13, 2015: China is leading the charge to build a global lender that could someday rival the World Bank, now Britain is joining in, rankling the White House. We get an update from the Financial Times' George Parker. Then: The White House has been looking at problems with local law enforcement. Not only did the Justice Department issue its report on Ferguson, Missouri, but a presidential task force on 21st Century Policing issued a report in March. In addition to the social costs, police misconduct costs money. One watchdog group found that Chicago paid out more than half a billion dollars over a 10-year period. How does the tab get so high?
Airing on Thursday, March 12, 2015: The Federal Reserve just released the results of its second round of stress tests, and two European banks have failed. We chat with the BBC's Andrew Walker about what went wrong. Next up: Bankrate.com issues its survey on how Americans intend to use their tax refunds. Are Americans really as frugal and responsible as they claim to be? Finally, we get the latest dispatch the LearningCurve team at the SXSWedu conference in Austin.
First up: bankers scanning the results of the first round of the Federal Reserve's stress breathed a small sigh of relief last week. Thirty-one of the biggest U.S. banks were under the microscope, and all 31 passed. But it’s not over yet. Today the Fed announces part two of the annual stress test designed to see whether banks have enough capital to withstand another financial meltdown. Why is this such an important issue for banks and to what extent is it changing how the banking industry works? Then: The UK isn't hitting NATO's targets for defense spending, and now the government is reportedly looking into some "creative accounting" to meet targets. We look into it. Finally: We chat with Keith Ferrazzi over at Ferrazzi Greenlight about business relationships.
Airing on Tuesday, March 10, 2015: The rarified world of international banking is getting some new talent with news the longtime CEO of Credit Suisse is out. Although the management change was sudden it hardly comes out of nowhere, given the Swiss bank's struggles in recent years with new regulations that followed the 2008 financial collapse. More on that. Plus, when the housing market exploded, the fall out rained particularly hard on a handful of U.S. cities: Las Vegas, Phoenix, Atlanta. Yet in the last year, home prices across the country continued to edge up, leading to some optimism that even hard-hit cities were recovering. But if you visit the suburbs of Atlanta, you might find a tale of two recoveries.
Airing on Monday, March 9, 2015: Today, the biggest credit reporting companies will announce changes on how they collect, check and report on the bill paying habits of 200 million Americans. Changes are focused on how they handle errors on the all-important reports and how those reports track unpaid medical bills. We have more on this emerging story. Plus, privacy advocates are concerned about a cyber security bill drafted by the Senate Intelligence Committee. The committee wants to make it easier for companies to share information on potential cyber attacks with the government. Critics counter that ‘sharing’ will make it easier for the government to spy on its own citizens. We explore. Plus, as Marketplace heads South to Austin, TX for SXSW, reporter Adriene Hill joins us to talk about SXSWedu, a festival and conference where education meets innovation.
Airing on Friday, March 6, 2015: In just a couple hours, the Labor Department will release new numbers on unemployment, including the unemployment rate, and how many jobs the U.S. economy added last month. There is a tendency to focus on the headline numbers. But a new report from the Economic Policy Institute reminds us it's important to dig deeper. And in the United Kingdom, law enforcement has been focusing on cyber crime. It's National Crime Agency arrested dozens of suspected hackers this week. Plus, now that McDonalds is promising us antibiotic free chicken, who else will join this movement and how is this potential trend going to affect the supply chain from farm to table and ultimately the price for the consumer.